A Quote by Andy Sawford
Help for first time buyers and other housing market measures will be welcome.
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Yes, when they're buying there are more buyers in the market and that's supportive of the price. The more buyers you have, the firmer the price is going to be. When central banks were selling it was a headwind the market had to overcome. Now it's a tailwind that central banks are joining the buyers.
Although housing sales and starts have cooled to more typical levels, the housing market remains strong and sound. Without the expansion of homeownership and the strength of our housing market, our nation would not have the economic growth we are experiencing today.
Instead of building housing in a wealthy neighborhood and saying, here you go, here's some under the market which will, by the way, drop the market for everyone's housing. Go into the lower income neighborhoods and say, here's a business incentives, so that people can get jobs.
The first principle of the market economy is that it is comprised of many small buyers and sellers, which implies a substantial degree of equity. Another fundamental market principle is that costs are internalized in the producer's price.
So much value has been lost in the housing market that people are now buying. If there's any activity in the housing market, it's because values have plummeted to such depths that the 47% can now afford to live in a government-purchased house, or something like that.
Most of what we know about sales comes from a world of information asymmetry, where for a very long time sellers had more information than buyers. That meant sellers could hoodwink buyers, especially if buyers did not have a lot of choices or a way to talk back.
...book-buyers aren't attracted, by and large, by the literary merits of a novel: book-buyers want a good story...something that will first fascinate them, then pull them in and keep them turning the pages.
Public housing is off-limits to you if you have been convicted of a felony. For a minimum of five years, you are deemed ineligible for public housing once you've been branded a felon. Discrimination in private housing market's perfectly legal.
I can remember the time when, if we wanted a house or housing, we relied on private enterprise. In fact, Americans built more square feet of housing per person than any other country on the face of the earth. Despite that remarkable accomplishment, more and more people are coming to believe that the only way we can have adequate housing is to use government to take the earnings from some and give these earnings, in the form of housing, to others.
Contrary to the vision of the left, it was the free market which produced affordable housing - before government intervention made housing unaffordable.
A lot of these things have hurt the average American. When they look at the banks and they say, "Well, the bank's talking its own game," I am telling you, what we've done in mortgage lending, our inability to have proper regulations around mortgages, has hurt average Americans. First-time buyers, immigrant buyers, prior defaults, self-employed, because they can't get a mortgage. Will it make a big difference to JPMorgan Chase? No, but you're hurting my fellow citizens. Let's go at it, and let's fix it.
Customers are a great way to finance a business for many reasons. First, customer financing is typically non dilutive. They want something from you other than equity in your business. Customers also help you fit your product to the market. And customers will help debug and improve the quality of the product.
Eviction comes with a record. Just like a criminal record can hurt you in the jobs market, eviction can hurt you in the housing market. A lot of landlords turn folks away who have an eviction, and a lot of public housing authorities do the same.
Information costs are reduced by the existence of large numbers of buyers and sellers. Under these conditions, prices embody the same information that would require large search costs by individual buyers and sellers in the absence of an organized market.
While rising delinquencies and foreclosures will continue to weigh heavily on the housing market this year, it will not cripple the U.S.
The financial crisis of 2008 was not caused by investment banks betting against the housing market in 2007. It was caused by the fact that too few investors - including all of the big investment banks - bet too heavily on the housing market in the years before 2007.
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